The FTSE 100 climbs on the back of momentum in financials, but gains in energy stocks are limited.


The blue-chip index rose 0.3%, while the domestic-focused FTSE 250 midcap index rose 0.4%.

Oil majors BP Plc and Shell Plc fell 1% and 0.7% respectively as oil prices fell more than $3 after the Chinese city of Shanghai launched a planned two-step lockdown to contain a surge COVID-19 infections. [O/R]

Asia-focused creditor HSBC Holdings added 1.3% and soapmaker Dove Unilever gained 0.6%, providing the biggest boost to the FTSE 100.

As peace talks between Russia and Ukraine are due to take place in Turkey this week, Ukrainian President Volodymyr Zelenskiy insisted on his country’s territorial integrity after earlier suggesting he was ready to compromise.

Ted Baker slid 3.4% after the fashion retailer rejected two unsolicited, non-binding takeover proposals from private equity firm Sycamore Partners Management for a possible cash offer.



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